What is an Innovation Flywheel? 🤔

I recall first learning about the flywheel concept in business when I read Collins' "Good to Great" twenty years ago. Collins uses the metaphor of a flywheel to describe how great companies build momentum through small, incremental changes, which eventually lead to significant breakthroughs. 

So what the heck is a flywheel? Well, a flywheel is actually a mechanical device that gathers momentum and stores energy and as it turns. A good business example would be how in sales you use the momentum of your happy customers to drive referrals and repeat sales. Basically, your business keeps sp inning, i.e. growing, even if you have an off period.

Now think about applying the concept to innovation. True innovation isn't just about the next big idea—it's about scalability and sustainability. 🌱 I was excited to read the attached article about Saab's Skapa (Saab defense and security, not autos!).

"The first key to understanding the Flywheel is recognizing its cyclic nature. It doesn’t follow a linear path of development like traditional R&D models. Instead, it begins by identifying problems directly from end-users, i.e. operators in the field. These problems are the friction points that the Flywheel is designed to resolve. From there it kicks into motion, fueled by the phases of Imagine, Create, Iterate and Intersect."

Here's how you can apply these insights to your own business and truly scale up your innovation game:

Start with a Clear Vision:🎯

Saab's flywheel begins with a clear vision that aligns with their long-term goals. 

↳ Your company should have a crystal-clear direction that guides every innovative step.

Build Cross-Functional Teams:

Saab’s process thrives on diverse teams collaborating harmoniously.

↳ Ensure your teams consist of varied expertise to drive breakthrough solutions.

Embrace Iteration: 🔄

Innovation isn't a one-time event; it’s a continuous cycle of improvement. 

↳ Regularly revisit and refine your ideas to ensure they're evolving with market demands.

Focus on Scalability:

Saab ensures their innovations are scalable, not just impressive.

↳ As you develop new products, consider how they can grow with demand.

Measure and Adapt:📊

Track the impact of your innovations and be ready to pivot when needed. 

↳ Data-driven decisions will keep you on the right path.

Remember, innovation is a marathon, not a sprint. 🏃‍♂️💨

Implement these strategies, and your business will be well on its way to sustainable growth.

What’s your biggest challenge in scaling innovation?

Let’s discuss down below or on LinkedIn.